Intellectual property (IP) encompasses the legal rights arising from creative endeavours in industrial, scientific, literary, and artistic domains. Traditionally, it is categorised into two branches: industrial property and copyright. Intellectual property management is an intriguing subject to review. This report presents requirements from different stakeholder perspectives (artists, musicians, researchers, etc.). The ways to manage differ from use case to use case, with or without smart contracts and NFTs. There are legislations to comply with and digitisation aspects to consider. At a time when digital innovation is at the forefront of policy discussions, the management and protection of intellectual property (IP) has become a critical challenge for creators, businesses, and legal entities alike. This report by the EU Blockchain Observatory and Forum looks at the transformative potential of blockchain technology in revolutionising IP management. The technology promises to solve long-standing problems, such as proof of ownership, enforcement of rights, and distribution of royalties with efficiency and transparency. Blockchain's decentralisation, immutability, and transparency provide a robust framework for the secure and accessible management of IP rights. By implementing smart contracts, blockchain facilitates automated transactions, including the payment of royalties. This automation not only lowers costs but also minimises the potential for disputes, creating a more efficient process for all parties involved. Non-fungible tokens (NFTs) that use blockchain technology provide a unique mechanism for asserting ownership and linking rights declarations to digital assets. The uniqueness and indivisibility of NFTs make them an ideal tool for representing ownership of unique digital and real-world assets. In our report, we introduce emerging standards, such as EIP-2981, which aim to standardise NFT royalties and demonstrate the industry's efforts to create interoperable and fair compensation mechanisms for creators. However, the integration of blockchain into IP management faces challenges. In this report, we identify and present key hurdles, such as the need for comprehensive legal frameworks that recognise and enforce blockchain transactions, the standardisation of different blockchain platforms to ensure interoperability, and the technical scalability required for widespread adoption. Despite these challenges, the report is optimistic about the future of blockchain in IP management. It calls for a collaborative approach between policymakers, technologists, IP owners, and IP users to create an environment conducive to innovation while protecting creators’ rights. The development of supportive regulatory frameworks, together with advances in blockchain technology will be crucial to realising the full potential of blockchain for the management of intellectual property. In conclusion, the report highlights the significant opportunities that blockchain offers for improving the efficiency, transparency, and fairness of IP management. It encourages continued research, development, and cross-sector dialogue to overcome the existing challenges and fully exploit the benefits of these technologies.

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intellectual property (IP),Blockchain,smart contracts,Non-fungible tokens (NFTs)